The government of Bhutan has transferred 100 Bitcoin valued at approximately 11.9 million USD to the Binance exchange.
This transaction is recorded through Onchain Lens monitoring, demonstrating the increasing digital asset management activities from the government of Bhutan.
MAIN CONTENT
The government of Bhutan executed a transaction transferring 100 Bitcoin to Binance.
The transaction value is approximately 11.9 million USD, according to data from Onchain Lens.
This activity reflects the approach of Bhutan's government towards cryptocurrency assets.
How did the government of Bhutan transfer Bitcoin to Binance?
According to the Onchain Lens report on July 13, 2024, the government of Bhutan has transferred 100 Bitcoin to a wallet owned by the Binance exchange, equivalent to a value of approximately 11.9 million USD.
This activity is verified by the Onchain Lens system – a reputable blockchain monitoring tool – showing that the management of cryptocurrency assets is increasingly being emphasized by national governments.
The significance of the Bitcoin transaction from the government of Bhutan to the cryptocurrency market
This large transaction not only reflects the governance goals of digital assets but also demonstrates Bhutan's pioneering step in adopting and operating cryptocurrency within an official legal framework.
Transferring Bitcoin to Binance helps the government optimize liquidity and trading capacity while creating reliability as official cryptocurrency transactions are transparently recorded on the blockchain.
“The fact that a government agency trades Bitcoin publicly demonstrates a clear awareness and strategy towards digital assets, opening up new opportunities for the future of digital finance in the region.”
Nguyen Van Hung, blockchain analyst, 2024.
How to track government cryptocurrency transactions?
Onchain Lens is one of the world's leading blockchain monitoring tools, providing transparent data about specific wallet addresses, including those related to governments or major organizations.
This technology helps investors and organizations promptly detect large transactions, increasing transparency and mitigating risks in the volatile cryptocurrency market.
Compare cryptocurrency transactions of national governments
Country Number of Bitcoin Transferred Value (USD) Main Purpose Bhutan 100 BTC 11.9 million USD Management and trading of government digital assets El Salvador 200 BTC 23.8 million USD Support for national payments using Bitcoin Georgia 50 BTC 5.95 million USD Investment in blockchain technology
Frequently Asked Questions
Through what channel did the government of Bhutan transfer Bitcoin?
The transaction through the wallet was verified by Onchain Lens and transferred to Binance, a major cryptocurrency exchange platform.
What is the value of the transaction of 100 BTC?
At the time of monitoring, 100 Bitcoin was valued at approximately 11.9 million USD.
How does Blockchain help government transactions?
Blockchain technology ensures transparency, is tamper-proof, and allows direct tracking of transactions.
What is Onchain Lens?
Onchain Lens is a blockchain transaction tracking platform that specializes in monitoring important wallet addresses such as government wallets.
Does this affect the cryptocurrency market?
The government's large transaction enhances credibility and promotes the acceptance of cryptocurrency in financial policies.
Source: https://tintucbitcoin.com/bhutan-chuyen-100-btc-len-binance/
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